MNI BRIEF: BOK Keeps Policy Rate at 2.50%: PRESS
Apr-10 01:00By: Hiroshi Inoue
Bank of Korea+ 1
The Bank of Korea’s board on Friday decided to keep its base interest rate unchanged at 2.50% for a seventh straight meeting, adopting a wait-and-see approach amid uncertainty over the economic and inflation outlook, Wowkorea reported.
However, the bank remains vigilant over currency weakness and its upward pressure on inflation, which is converging toward the 2% target, as well as elevated housing prices.
The bank is expected to keep the policy rate at 2.50% for the time being unless the economy shows clear signs of deterioration.
The next policy meeting is scheduled for May 28.
